Ariana Leroux Mortgage Blog

                                                          SUMMER Rate Update!  Build Rates 5 Year Fixed              3.99% (9 Months)    4.24% (12 Months) 5 Year Variable          Prime  (9 Months)    Prime  (12 Months) Still have the 2.99% 5 year fixed rate (insured). Mortgage must close withing 45 days, not available for pre approvals. 3.19% for 120 day rate hold, 5 year term! 2.49%    1 Year Rate 2.59%    2 Year Rate 2.69%    3  Year Rate 3.09%    4  Year Rate 3.69%    7  Ye...

Taken from the TMG Mortgage BLOG... Friday, August 03, 2012 What can we make of the low interest rate environment we are now seeing? Fixed rates are dropping and one lender has dropped its variable rate. Will more lenders follow suit? When the five-year fixed rate fell to under 3% earlier this year, Finance Minister Jim Flaherty and Bank of Canada Governor Mark Carney cautioned consumers and warned lenders to be careful with debt loads. Clearly it didn’t slow the robust housing market – purchases and refinances continued at a pace not seen since 2007. Then Flaherty announced some changes to the mortgage rules to slow down the pace of rising debts. So what happened? We had a couple of weeks of quiet as the summer was also upon us. It appears both lenders and investors are not comfortable with a lull. They have been taking advantage of lower bond yields, which accounts for lowered fixed rates. Even the seven and 10-year rates ar...

From The Mortgage Group Mortgage Blog Tuesday, July 03, 2012 By Mark Kerzner, President, TMG The Mortgage Group Canada Inc. When I worked as a lender we saw a lot of Adjustable Rate Mortgages (ARMs) - variable rate transactions. From the early-to-mid-2000s that product seemed to be the mortgage product of choice by the brokers we worked with. Many brokers devised strategies to demonstrate how the ARM was more advantageous to the homeowner than a standard fixed rate mortgage. The "pitch" ranged from paying less interest, to having lower payments, to aggressive principal reduction, and so on. With the benefit of hindsight, for those consumers who chose variable rate products throughout the last decade, they have, for the most part, come out well ahead. With fixed interest rates continuing to hover at historical lows (5-year fixed rates are approximately 3.09% to 3.29% at the time of this writing) and the small spread between discounted ARMs and fixed r...

So this link below is interesting, as well as the 1st comment. However as my clients know I do put them first, and not just stating it as a "...walk on water" comment; I did however love the quotes in the comment section. Back to the point... which is why I would be asking "why they want or prefer a short term mortgage" to see if it is just rate based or if they truly need the rate/mortgage for short term. The RMG Mortgages 2.59% for the 2 year is awesome for short term buyers, with full pre payment options, portability, quick turn around - client is still #1. AND with rates going to go on the rise (as that is what history shows) client takes advantage of the bit longer rate if their "short" term goes a bit longer than expected. Which most times is the case. MCAP however has an A1 10 year program as well! with full options on it as well, for those that want AAA rates and want the security longer. Really at the end of the day, a good Mortgage Broker/Agent...

New SUMMER RATES!!! Click to Check it OUT!